Updates, advisories and surprises

(4:32 PM ET) SAN FRANCISCO (MarketWatch) -- Buca Inc.
BUCA
late Tuesday reported fourth-quarter net earnings of $943,000, or 5 cents a share. In the same period last year, the company posted a net loss of $6.42 million, or 32 cents a share. The Minneapolis-based restaurant chain said revenue in the three months ended Dec. 31 rose 13.6% to $71.5 million from $62.9 million, while comparable sales in the period rose 4%. The fourth-quarter of fiscal 2006 contained 13 weeks, as compared to 12 weeks in the fourth quarter of fiscal 2005. The additional week contributed roughly $6.1 million in sales, the company said. (Corrects item to reflect that the company reported earnings on Tuesday.)

Gymboree's fourth-quarter profit rises

(4:18 PM ET) SAN FRANCISCO (MarketWatch) -- Gymboree Corp.
GYMB
late Tuesday reported fourth-quarter net earnings of $24.4 million, or 75 cents a share, up from $20.4 million, or 61 cents a share, in the year-ago period. Income from continuing operations came in at 82 cents a share compared with 63 cents a share last year. The San Francisco-based children's clothing retailer said revenue in the 14 weeks ended Feb. 3 rose to $241 million from $203.7 million in the comparable period last year. Analysts polled by Thomson Financial were expecting a per-share profit of 72 cents on revenue of $243 million. Gymboree expects first-quarter income from continuing operations of 60 cents to 63 cents a share, and fiscal 2007 income from continuing operations of $2.36 to $2.40 a share. Analysts are expecting a per-share profit of 63 cents in the first quarter and a per-share profit of $2.36 in fiscal 2007. The company also said it expects first quarter same-store sales to be flat to slightly positive, and fiscal 2007 same-store sales to be slightly positive.

New Century trading on Pink Sheets under new symbol

(1:20 PM ET) NEW YORK (MarketWatch) -- New Century
NEWC
has been trading Tuesday on the Pink Sheets under the symbol NEWC, according to pinksheets.com. The last sale of the stock took place at $1.20, up 3 cents. The stock is drawing volume of 10 million shares. Earlier on Tuesday, the stock was suspended for trading on the New York Stock Exchange under the symbol NEW.

Goldman Sachs CFO bats down any IPO possibility

(12:08 PM ET) NEW YORK (MarketWatch) -- Goldman Sachs
GS, +0.53%
Chief Financial Officer David Viniar said the marquee investment bank has no plans to stage an initial public offering for its alternative investment business in the vein of Fortress Investment Group
FIG, -0.54%,
after being asked about the successful IPO by an analyst. "I was just wondering can you discuss internally the dialogue between doing -- even considering an option like (Fortress) for a portion of your funds?" CIBC analyst Meredith Whitney asked. "We think there are tremendous synergies amongst our businesses....I think that our businesses together are a lot more valuable than separated," Viniar replied on the company's conference call. Fortress Investment Group raised $729 million in its IPO earlier this year. The IPO rose 68% in its first day of trading as the biggest first-day gainer so far in 2007.

TransAct Tech shares stumble on fourth-quarter results

(11:07 AM ET) SAN FRANCISCO (MarketWatch) -- TransAct Technologies Inc.
TACT, +0.04%
shares tumbled 18% to $7.70 in Tuesday morning trade. Late Monday, the Wallingford, Conn.-based printer maker reported fourth-quarter net earnings of $983,000, or 10 cents a share. In the same quarter last year, the company posted a net loss of $727,000, or 8 cents a share. Revenue rose to $15.7 million from $12.5 million. "On balance, although early 2007 order rates imply a slowdown for the first quarter of 2007 from recent growth rates, we anticipate stronger sales growth, compared to the first quarter 2007, during the remaining quarters of this year," said Chief Executive Bart Shuldman in a statement.

Ixia's shares slide on fourth-quarter results

(10:40 AM ET) SAN FRANCISCO (MarketWatch) - Ixia
XXIA
shares fell 10% to $10.01 in Tuesday morning trade. Late Monday, the Calabasas, Calif.-based company reported fourth-quarter net income of $4.5 million, or 7 cents a share, up from $3.65 million, or 5 cents a share, in the year-ago period. Excluding certain items, Ixia posted a per-share profit of 13 cents compared with 6 cents last year. Revenue climbed to $47.4 million from $35.5 million. Analysts polled by Thomson Financial were expecting a per-share profit of 9 cents on revenue of $42.8 million.

J2 Global 2006 profit rises; shares up

(10:09 AM ET) SAN FRANCISCO (MarketWatch) -- J2 Global Communications Inc.
JCOM, +0.14%
shares surged 13% to $27.96 in Tuesday morning trade. Late Monday, the Los Angeles-based provider of messaging and communications services reported a 2006 net profit of $53.1 million, or $1.04 a share, up from $50.6 million, or 99 cents a share, in 2005. Excluding items, the company posted a 2006 profit of $1.19 a share compared with 89 cents a share in 2005. Revenue rose to $181.1 million from $143.9 million. Analysts polled by Thomson Financial were expecting a per-shares profit of $1.09 on revenue of $181.1 million. For fiscal 2007, the Company still expects revenue of $217 million to $229 million and forecast earnings of $1.35 to $1.45 a share.

(9:45 AM ET) TEL AVIV (MarketWatch) - Israeli shares were down late on Tuesday, with agrichemicals producer Makhteshim Agan giving up a 2.8% gain to trade lower after it reported a fourth quarter in line with expectations and a plan to streamline. The Tel Aviv Stock Exchange's benchmark TA-25 index declined 0.65% to 971.67 and the TA-100 index shed 0.56% to 977.27. The Tel-Tech 15 index of top technology issues slipped 0.27% to 386.62. Makhteshim-Agan, the most-active issue, was down 2.4% after reporting that it swung to a $38.5 million loss from a year-earlier profit on 3.4% higher sales. The figures were "broadly in line" with a profit warning the company issued in January, Leader & Co. said in a note. The numbers are "irrelevant to investors, who are focusing on 2007," Excellence Nessuah said. The company also said it would eliminate overlapping areas of operations within the parent and subsidiaries and implement a companywide supply chain. Israel Chemicals, the producer of fertilizers, rose 0.9%. Teva Pharmaceutical is trading off 0.3%. Bank Hapoalim, the country's largest bank, is off 0.9%. Hapoalim reported to the TASE that Alliance-Bernstein, which Clal Finance Batucha said is the bank's largest foreign holder, has sold 8.7 million shares since Feb. 26. Bank Leumi is trading down 0.6%.

Qualcomm boosts second-quarter financial outlook

(9:13 AM ET) NEW YORK (MarketWatch) -- Qualcomm Inc.
QCOM, -0.85%
Tuesday lifted its outlook for the second quarter, citing strong worldwide demand for its CDMA (code division multiple access) products. The San Diego-based company now sees pro forma earnings of 48 to 49 cents a share for the period on revenue of between $2.1 billion and $2.2 billion. The previous outlook was for pro forma earnings of 42 to 44 cents a share in the quarter on revenue of $2 billion to $2.1 billion. The higher view is based on the anticipated shipment of between 60 and 61 million Mobile Station Modem chips in quarter, as compared to a prior expectation for the shipment of 55 to 57 million units. Qualcomm said it now expects shipments of about 91 million CDMA units at an average selling price of $214 for the second quarter, up from a prior estimate of 82 to 86 million units at an average selling price of $217. The current average estimate of analysts polled by Thomson Financial is for earnings of 43 cents a share in the March period. Including items, the company now sees earnings of 41 to 42 cents a share for the second quarter, compared to its prior outlook for a profit of 35 to 37 cents a share. The stock closed Monday at $40.12, down 3 cents.

Kroger profit and sales rise

(9:12 AM ET) NEW YORK (MarketWatch) - Supermarket operator Kroger Co.
KR, +2.50%
on Tuesday said fourth-quarter net income rose to $384.8 million, or 54 cents a share, from $282.1 million, or 39 cents a share, in the year-ago period. Results for the quarter included a 3 cents a share benefit from adjustments of certain deferred tax balances. Sales rose to $16.86 billion from $14.72 billion. Analysts, on average, expected it to earn 45 cents a share on revenue of $16.79 billion, according to Thomson Financial. Identical supermarket sales increased 5.6% with fuel and 5.3% without fuel, the company said. For the year, Kroger expects to earn $1.60 - $1.65 a share. Analysts polled by Thomson Financial expect it to earn $1.58 a share, on average.

Stewart Enterprises 1st-quarter net up 42%, revenue up 5.2%

(8:51 AM ET) TEL AVIV (MarketWatch) -- Stewart Enterprises Inc.,
STEI
the New Orleans owner and operator of funeral homes and cemeteries, reported fiscal-first-quarter net income rose 42% on 5.2% higher revenue. For the quarter ended Jan. 31, earnings were $11.9 million, or 11 cents a share, compared with $8.4 million, or 8 cents, in the year-earlier period. Revenue reached $132.7 million from $126.1 million. Cemetery revenue rose 10%, helped by sales of cemetery property. In the funeral division, revenue rose 1.5% and the company saw "robust increases" in average revenue per service.

Goldman Sachs sees strength in overall credit market

(8:42 AM ET) NEW YORK (MarketWatch) -- Goldman Sachs Group Inc.
GS, +0.53%
on Tuesday said the subprime mortgage market has not dampened the overall credit environment. In its first-quarter earnings report, the investment bank said "although the subprime sector within the mortgage market experienced significant weakness, the broader credit environment remained strong." Goldman reported $4.6 billion in revenue for fixed-income commodities and currency during the period, a 20% increase from the same period last year. "During the quarter, FICC operated in an environment characterized by strong customer-driven activity and favorable market opportunities," the company said.

Goldman earnings rise 29% and come in well above estimates

(8:30 AM ET) NEW YORK (MarketWatch) - Goldman Sachs
GS, +0.53%
said Tuesday morning that it earned $3.2 billion, or $6.67 a share in the first quarter ended February 28 on net revenue of $12.73 billion. That compares to earnings of $2.48 billion, or $5.08 a share a share a year ago, on net revenue of $10.43 billion. Analysts polled by Thomson First Call had, on average, expected the firm to earn $4.97 a share, on revenue of $10.69 billion.

Revlon swings to loss, hurt by restructuring

(8:16 AM ET) NEW YORK (MarketWatch) - Cosmetics maker Revlon Inc.
REV, +1.06%
on Tuesday said it swung to a fourth-quarter loss, hurt by restructuring costs and the discontinuation of its Vital Radiance brand. For the quarter, the company posted a loss of $5.5 million, or 1 cent a share. In the year-ago period, it earned $64.3 million, or 17 cents a share. Net sales fell to $378.9 million from $437.8 million. The sales decline was mainly driven by lower shipments, partially offset by lower returns, allowances and discounts. Revlon said it plans to continue to take advantage of opportunities to reduce and refinance its debt, including refinancing the remaining balance of our 8-5/8% senior subordinated notes due on Feb. 1, 2008.

Finlay 4th-quarter net fell 44%; sees loss for 1st quarter

(8:10 AM ET) TEL AVIV (MarketWatch) -- Finlay Enterprises Inc.,
FNLY
the New York retailer of fine jewelry, reported fiscal fourth-quarter net income fell 44% on 5.3% higher sales. For the quarter ended Feb. 3, net was $16.2 million, or $1.73 a share, compared with $28.7 million, or $3.11, in the year-earlier period. Earnings from continuing operations were $1.41 versus $1.96. The latest period included 14 weeks compared with 13 weeks a year earlier. Total sales reached $318.8 million from $302.7 million. Comparable department sales rose 1.4%. For the first quarter, Finlay expects a net loss of 75 cents to 85 cents a share on sales of $165 million to $175 million and a comparable-store sales increase of 6% to 8%. For the fiscal year, the company sees a net loss of 20 cents to 35 cents a share on sales of $780 million to $800 million. Comparable sales should rise 2.5% to 3% at its licensed business and a mid- to high single-digit percent at its specialty jewelry stores.

Dick's Sporting Goods earnings rise above expectations

(7:40 AM ET) NEW YORK (MarketWatch) -- Dick's Sporting Goods
DKS, +1.01%
said fourth-quarter earnings rose to $67.7 million, or $1.20 a share, from $54 million, or $1 a share, a year earlier. Revenue increased 21% to $1.03 billion, the first time topping the $1 billion mark, from last year's $849.5 million. Analysts surveyed by Thomson Financial had been expecting earnings of $1.15 a share and revenue of $997.2 million, on average. Same-store sales for the quarter ending Feb. 3 rose 2%, vs. the company's previous forecast of 2% to 3%. Looking ahead, the sporting goods retailer said it expects first-quarter earnings of 35 to 38 cents a share, vs. analyst forecasts of 28 cents a share, and same-store sales growth of 4% to 6%. The stock closed Monday up 75 cents at $53.89.

Smith & Wesson profit and sales rise

(7:17 AM ET) NEW YORK (MarketWatch) - Smith & Wesson Holding Corp.
SWHC
on Tuesday said fiscal third-quarter net income rose to $1.5 million, or 4 cents a share, from $1.1 million, or 2 cents a share, in the year-ago period. Sales rose to $53.9 million from $38.6 million. Analysts, on average, expected it to earn 4 cents a share on revenue of $51 million, according to Thomson Financial. Smith & Wesson, whose products include, guns, rifles, knives and hunting accessories, expects sales for the fiscal year ending April 30, 2008 of about $320 million, up 42% over forecasted fiscal 2007 sales of about $225 million. This increase in sales is expected to be driven by growth in the core handgun business, the ramp up of its long gun product lines and the full year impact of Thompson/Center Arms. For fiscal 2008, it expects net income of about 60 cents a share. Analysts polled by Thomson Financial expect it to earn 59 cents a share on revenue of $293 million, on average, for fiscal 2008.

GEO Group raises forecast to reflect new Indiana contract

(6:43 AM ET) WASHINGTON (MarketWatch) -- GEO Group Inc.
GEO, -0.65%
said it's signed an agreement to house up to 1,260 additional inmates under a contract with the state of Indiana. The contract will begin to contribute to earnings for the provider of correctional and detention services starting in the third quarter, adding 3 cents a share to its profit forecast. Boca Raton, Fla.-based GEO Group also said it anticipates an additional 1 cent a share in startup expenses during both the first and second quarters of 2007. As revised, GEO Group anticipates pro-forma earnings in a range of 53 cents to 57 cents a share for the third quarter and 59 cents to 64 cents a share for the fourth quarter. These forecasts exclude startup expenses.

Goodrich Petroleum swings to quarterly loss on charges

(6:23 AM ET) LONDON (MarketWatch) -- Goodrich Petroleum
GDP, -1.05%
said it swung to a fourth-quarter net loss of $24 million, or 96 cents a share, from net profit of $8 million, or 33 cents a share, a year earlier. Results for the latest quarter included a $7.9 million charge reflecting the impact of dry hole costs in South Louisiana and $24.8 million of non impairment charges to oil and gas properties. Revenue climbed 22% to $31 million. The company said its year-end reserves stood at a record 206 billions of cubic feet equivalent.

European stocks hold flat at open; HMV tumbles after warning

(4:14 AM ET) LONDON (MarketWatch) -- European stocks held broadly flat in opening trading on Tuesday after some poorly received European earnings news balanced a late rally on Wall Street. Among climbers, miner Antofagasta(UK:ANTO)added 1.4% after its earnings topped forecasts on surging copper prices. Among fallers, books and music retailer HMV Group(UK:HMV)fell 11.6% after it warned profit for the year will fall below expectations and brewer SABMiller(UK:SAB)lost 3.5% after issuing a profit warning due to losing its Amstel license. Broadly the German DAX 30 index lost 0.1% at 6,709.40 the U.K. FTSE 100 index fell 0.1% at 6,228.30 and the French CAC 40 index added 0.01% at 5,496.85.

(3:50 AM ET) LONDON (MarketWatch) -- French utility Gaz de France(FR:GAZ), which is trying to merge with Suez
SZE,
reported a 29% increase in annual profit to 2.3 billion euros ($3 billion), driven both by its production and transmission arms. It doesn't expect to grow operating profit in 2007 citing the warmest weather in 50 years. It's hiking its dividend 62% to 1.10 euros a share.

Aer Lingus swings to $92 million loss on IPO costs

(3:44 AM ET) LONDON (MarketWatch) -- Irish airline Aer Lingus(UK:AERL)said it swung to an annual loss of 69.9 million euros ($92 million), hurt by 133 million euros of exceptional costs, mostly on the costs of going public and on defending a hostile takeover bid from Ryanair
RYAAY, +3.98%
(UK:RYA). Its earnings before interest, tax, depreciation, amortization, employee share and aircraft rentals dropped 7% to 76 million euros, hurt by the U.K. terrorism incident last summer and the substantial increase in the price of oil. For 2007, it expects an operating profit in line with market expectations at the time of the IPO, and capacity growth of 14.6%.

HMV Group warns profit will fall short of expectations

(3:43 AM ET) LONDON (MarketWatch) -- U.K. music and books retailer HMV Group(UK:HMV)warned Tuesday that profit for the year will fall below market expectations following a further deterioration in trading conditions since its last update in January. The group said the slowdown has mostly been in its overseas markets and its Waterstones book stores. In its U.K. HMV-branded music and DVD stores sales have been in line with expectations, but it has not achieved its planned improvement in gross margin and cost savings, the group said, adding it has made further management changes. Same-store sales in the 9 weeks to March 10 fell 3% across the group. HMV said it has identified steps to protect itself against a shrinking market, including generating 40 million pounds ($77 million) of savings a year from a simplified supply chain. The group also said it plans to launch a new store format and a loyalty card as well as a social networking Web site for music, film and games fans.

Antofagasta profit surges on high copper prices

(3:34 AM ET) LONDON (MarketWatch) -- Copper miner Antofagasta(UK:ANTO)said Tuesday that its 2006 net profit rose 87% to $1.35 billion, marginally ahead of the $1.33 billion consensus, as revenue grew 58% to $3.87 billion. The growth was largely due to record copper prices in the year, with production levels also above forecasts at all three of its mines. The average selling price for copper in the year rose to $3.05 a pound from $1.67 a pound in 2005. Antofagasta said it will more than double its full year dividend to 48.2 cents a share from 22 cents. Antofagasta said it expects copper prices to remain well above their historical highs in 2007 and 2008, though the highs of 2006 may not be repeated. For 2007, Antofagasta said it expects copper production to slip around 2% and costs to increase at all three of its mines.

Hertz swings to 4th-quarter net on cost controls

(3:11 AM ET) TEL AVIV (MarketWatch) -- Hertz Global Holdings Inc.,
HTZ, +0.60%
the Park Ridge, N.J., car-rental company, swung to a fourth-quarter profit from a year-earlier loss on 8% higher revenue. The company earned $39.8 million, or 14 cents a share, compared with a loss of $27.6 million, or 12 cents, in the year-earlier quarter. Adjusted earnings were 25 cents against 10 cents. Revenue reached $1.99 billion from $1.84 billion. The company cited strong cost controls, particularly in U.S. car-rental and equipment-rental operations, for the turnaround. Pricing also improved and the company diversified its revenue sources, Hertz said. For all of 2007, Hertz expects to earn an adjusted $1.15 to $1.22 a share, compared with 92 cents in 2006. Revenue should reach $8.5 billion to $8.6 billion from 2006's $8.06 billion.

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